Shares of iRadimed Corp. (NASDAQ:IRMD) have been assigned an average broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating. iRadimed Corp.’s rating score has declined by 200% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a one year consensus target price of $11.25 for the company and are predicting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also given iRadimed Corp. an industry rank of 156 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered iRadimed Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Roth Capital lowered iRadimed Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $11.50 in a research note on Wednesday.
Shares of iRadimed Corp. (NASDAQ:IRMD) opened at 10.32 on Wednesday. iRadimed Corp. has a 1-year low of $9.76 and a 1-year high of $33.25. The stock has a market cap of $110.14 million, a PE ratio of 14.83 and a beta of 1.28. The stock’s 50 day moving average price is $16.91 and its 200 day moving average price is $18.07.
iRadimed Corp. (NASDAQ:IRMD) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The firm earned $9.90 million during the quarter, compared to analyst estimates of $9.60 million. During the same quarter last year, the firm earned $0.16 EPS. iRadimed Corp.’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities research analysts anticipate that iRadimed Corp. will post $0.92 EPS for the current fiscal year.
In other news, VP Steven M. Nardi sold 2,096 shares of iRadimed Corp. stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $17.11, for a total value of $35,862.56. Following the completion of the transaction, the vice president now owns 1,996 shares in the company, valued at approximately $34,151.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 69.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of IRMD. Teachers Advisors Inc. raised its position in shares of iRadimed Corp. by 43.3% in the second quarter. Teachers Advisors Inc. now owns 5,670 shares of the company’s stock valued at $123,000 after buying an additional 1,712 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of iRadimed Corp. by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,343 shares of the company’s stock valued at $182,000 after buying an additional 443 shares during the last quarter. California State Teachers Retirement System raised its position in shares of iRadimed Corp. by 39.6% in the second quarter. California State Teachers Retirement System now owns 8,484 shares of the company’s stock valued at $185,000 after buying an additional 2,405 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in shares of iRadimed Corp. during the second quarter valued at approximately $273,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of iRadimed Corp. during the second quarter valued at approximately $290,000. Institutional investors own 20.74% of the company’s stock.
iRadimed Corp. Company Profile
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.